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. >> the question here was is this a chance to change our trajectory in terms of energy? is this a chance to change the way people think about it and the way the policies are shaped around energy? >> we caught up with steyer in the tiny town of mayflower, arkansas, where he was getting a look at the estimated $5 billion oil spill. -- 5,000 barrell oil spill. here is some just off the top of the water. it's sticky. it's extremely sticky. >> very sticky. >> it smells awful. >> in march 2013, a shallow underground pipeline owned by exxonmobil burst, sending oil running down a play flower residential street, as can be seen in this video. >> the smell is unbelievable. i mean, look. there's oil. >> the oil flowed down the street through a drainage ditch and emptied into a ditch. the crews came from miles away. >> what are the booms for? >> to soak in the oil. >> literally? >> yeah. >> that's what they're for? >> they're supposed to soak in water. >> steyer had come to play flower to gather ammunition for what may be the biggest fight of his life, trying to stop the keystone pipeline from being built. ste
trajectory? is this the way to change the policy of energy? >> we caught up with steyer in arkansas where he was looking at the oil spill. here is some just off the top of the water. it's sticky. it's extremely sticky. it smells awful. >> in march 2013, a shallow underground pipeline owned by exxon burst, runs down the residential street as you see in this video. >> the smell is unbelievable. look -- there is oil. >> the oil flowed down the street through a drainage ditch. the crews had come from alberta, canada, thousands of miles away. >> what are they for? >> they are to soak in the oil. they are supposed to. they are supposed to soak in water. >> steyer had come to mayflower to gather ammunition for what may be the biggest fight of his life, trying to stop the pipeline from being built. he worries more leaks like this one could happen. the proposed keystone pipeline would stretch from the canadian border across the u.s. to the existing pipeline that carries oil to the refinery. he says the oil will be sent directly to the international market. >> it is not going to the united states. it
in the ukraine. deteriorating. the country's energy situation is crucial. after the break, we'll find out who is waiting in -- who is weighing in on the ukraine's power struggles. ♪ >> welcome back. we're taking a closer look at europe's energy situation. affected by the conflict in the ukraine. what happens next is completely up in the air. joining us now is the executive chair of the global energy symposium. let's talk about europe's exposure to russian gas and the ukrainian throughput. to what extent should we be worried by the escalating situation? >> the longer this crisis remains, the greater the impact is going to be on energy expectations in europe. we are already seeing that this morning. of any has happened great significance in the ukraine other than some russian troops showing up in the crimea. it has been enough to start spiking prices and spiking future levels. that is going to be more pronounced as we move forward. the interesting thing is what is already doing in new york, which i think is an overreaction at -- moment, given what is at what is actually occurring. i keep tell
to invade ukraine. the u.s. is winning sanctions against russia which is the world's largest energy orchard there. you can see on the heels of that news energy futures surging this morning. rude at this hot. to numerald close two percent up as well as natural gas and gasoline. that is right now more than 1% of their. this is one of the most important weeks in the clinical calendar. leaders meet for their annual session of parliament. this year the talks will be dominated by the rising concerns about the environment. david has been watching this for us. let's start with the latest data. >> at will set the stage in some ways. seen ishave highlighting what china wants to do with the economy. with, it was an eight-month low for pmi. it was back in line with what economists had been expecting. mostre seeing the challenges for the smaller and medium-sized. especially the x words. next boards is one of the components. the number actually fell. it has been a contraction for a third straight month. talents ofyou the china from moving up the value chain. are under very thin margins. what happens when
impact for ukraine. peter cook tells us how the ukraine is fueling the energy debate here in the states. ukraine. the latest on president obama says russian president vladimir putin has breached international law. the present spoke to reporters earlier today on the situation in crimea. thatere is a strong belief russia's actions is violating international law. president putin seems to think -- has a different set of lawyers making a different set of interpretations. that is fooling anybody. everybody recognizes that, although russia has legitimate interests in what happens in a neighboring state, that does not give them the right to use force as a means of inserting influence. said heresident also has not spoken to president putin since the weekend. let's get the latest on the --und rumble bloomberg ground from bloomberg. what is the latest in the standoff? much a tensel very standoff. there's is an air base down in crimea. it was taken over by russian forces over the weekend. this morning, ukrainian troops -- 300 of them -- marched back to that base and said they wanted it back. soldie
stock for 10-plus years, other than the energy sector, and that is where we thought the lifting of all of that public policy and certainty related to all of the government issues we have had the last two years, that would be the main driver and that durable a much more placed to pick consumer oriented companies. indexdid see the pricing today -- it went up a point more than people thought, giving some hope it would rebound a little bit. but guess what? the r&d taxon of credits last year. congress did not renew those. we are seeing bid increases -- big increases in november and december. we have seen nothing in february so far. what we do not know is whether we will see that building and, whether there was a temporal, prime shift with black -- prime shift -- >> you think that is inevitable? >> the good part of the durable goods report last month, or last week showed a big pickup in january. we had in industrials conference. we got a lot of positive .necdotes from these companies they are much more interested in capital spending or even nurtures and acquisitions than vying back stocks. i
. we know the structurally the energy market is changing. the loss isn't there. what is more important is the on tohat rwe is holding the guidance and they gave. , the current net income. they said we will make one point $3 billion. that is incredibly important if you are a dividend or stockholder in this company. kitchen seek is a colloquial term for dumping everything that is bad. if the with gusto. it is making savings. and howfunction exciting my life he gets on tuesday. renewables is a part of the business. it is barely 1%. record.ibility is at a that is according to bloomberg industry. that has a significant tale. new business is making record profits and expenditure is also at a five-year low. mothballing old plans. getting ready for 2022. why do i say that? germany comes off line. >> i was going to ask you about that. is a story about the german energy market changing completely. >> if you think about the edict -- green power wants to constitute 45% of energy production. up from under 25%. with energy.ution energy prices have been coming off a month after month. down by 15%. th
troops at all. ukraine relies on russia for most of its energy, using most of that natural gas to fuel their industry and heat homes. the fear is that that reliance will be russia's next weapon. russia could punish ukraine by cutting off the gas altogether. >> they are considering it. >> if russia turns off the gas, what would you do? >> we will try to turn the tap it another way. russia cannot the refusing gas -- cannot use gas as a weapon. >> back on independence square they know a thing or two about dealing with the cold. they have been out there for more than three months. they also know about gas shortages. russia has turned off ukraine's gas twice in the last decade. not everyone is convinced that the russians are up for that fight. >> ukrainians and russians? for how long will russia be able to be in this situation? it all goes through ukraine. what will happen? what will happen to their economy? >> night falls. they are celebrating in key avenue. back in their homes, the gas is still flowing. the next front is still an invisible threat. bloomberg, kiev. >> one man who knows how
. we see an energy prices up. so we see an uptick for brent. point when these oil prices continue to uptick. it will get to a point where people will start thinking about inflation. perhaps what it could mean for growth ahead. for gold, one point three percent, we are now at $1343. a $150 gain so far. north korea, when that happens, we usually get an uptick along the south korean defense plays. naver corp, two percent down after gains last week. i will be back later on. john, back to you. j.crewican fashion has -- has friends in very hype very high places. and may have a new owner. >> that is the country trading in the japanese trading session. they may acquire j.crew for a deal valued at the $5 billion. really looking to make inroads in the u.s. unwilling to grow and expand overseas. they want to be the world's largest clothing retailer. so they are betting on scoop-neck tees and cardigans. the bigs fan is michelle obama the united states. she loves them. i love -- i wear some j.crew j.crew -- i wear some clothing. it is hard to buy it here. leonard green has been the guy behind
television service. number three is fuel energy. fuel cell, which reports earnings on march 10, is one of the most overbought stocks. >> i am talking cars. the auto-parts retailer reporting in nine percent increase as well as sales growth of four percent. severe winter weather actually helps sales by accelerating demand area >> number one is radioshack. shares plunged more than 25% after the electronics chain announced plans to close up to 1100 stores in the u.s., or 20% of its footprint. radioshack also reported a significantly wider loss for the fourth quarter. are also keeping our eyes on shares of smith and west. the gunmaker reporting earnings after the close today. a bumpy ride for alix steel, and paul barrett joins us from washington. on god's.t with you we saw them take off in 2013 under the threat of more regulation. what is happening, why this decline now? >> there has not been any kind of tragedies. if you take a look at federal background check which analysts say can be a relatively good barometer for sales, they tend to increase we see some kind of national shooting. auror
in europe and it has really shrunk. potentially, they have big energy plans for europe. >> it is not proven yet. >> if it turns out that american companies are there -- >> let me ask about the united states. >> yeah. crimea, the have gas and -- but let me ask you about the united states role. you had friendly relations with george bush and you had good relations with the obama administration. i expect that you feel that the administration was not as helpful to georgia as they could have been and will not be as helpful in the ukraine because the united states has bigger fish to fry with russia. i do not think anybody can afford to neglect this. if they do, it is a major disaster. this guy is dangerous. this is going to continue. it is not limited to crimea. it allows us to have another crisis moving somewhere and everybody forgets what happened in georgia apostates. it is getting shorter and -- ter and >> to be fair, he said that he did not feel any need to escalate. >> they are using the word of escalation stop there with the occupation and europeans might he is escalating. le
whoead observes him closely said, it might be energy. energy will be the big area. is for the most part a stable and secure industry. there are dominant players and you can have a monopoly hold on a certain sector of this group. is that similar to what you have heard? areay could be an active for him? >> certainly, he hinted their big energy unit, they did the deal and the battle last year. he said it would not be their last major acquisition. i take him at his word. this industry has room for consolidation. there are utilities out there. i do not know if it will happen this year or when, -- >> let's be clear. i think what you're referring to and powertribution generation, both of which enjoy great labor returns in capital. let's say he could deploy capital at 12% with flow that could cost them nothing over time. it is extraordinary. then there are huge amounts of capital. as to the actual producers of energy, exxon and the rest, i think he struggles with what he thein this as his test, hundred year test. he talked about the new acquisitions still around 100 years. exxon has been around
,hose particularly energy. this has been about for the russian economy. the currency has fallen. the stock market is down. there was a reaction to this that may affect putin's economy. but i mention one other thing? is this beautiful and large country called ukraine. suppose ukraine finally after failing in 2004 get it right -- democracy, gets rid of corruption, the economy is improving, and it is there of the border for russia. i think it makes him nervous if there were a success in ukraine in bringing about a free and open society and economic success, which is not the case in russia. if the sanctions fail? what do you do it the pressure with his he continues own ambitious ideas of expanding within his own borders and spears of influence? >> go back to georgia in nato. if you tried something like that ay with one area that has significant russian popularity -- population, he would be attacking nato. that would be an entirely different set of circumstances. i have no illusions that in the short term, we will be able to ambitions.tin's in the long term, we can curb those ambitions in many ways, b
in a regular car stores electricity at a lower energy density. they are later. -- later. -- lioghter. >> they cost a lot more. you can pick up the battery in your car for 100 and the dollars -- $150. the lithium-ion batteries in a tesla cost about $40,000. plan going to be built with a combination of public and private money? >> we do not know yet. there will certainly be some tax incentives involved. said that elon musk he would announce the state of the earnings call. he has not denounced yet. he is playing hardball. >> why do you think nevada is the place that will get it? at -- ou look >> they build the car in california. >> geographically, they are the winners. there are rail lines. >> the lithium is there. but there is a lithium mine in northern nevada. there are reserves in wyoming. that is good. lithium is a big cost. >> think about how exciting this is. maybe i have drunk the elon musk lay. -- kool-aid, it is going to be a huge factory. they will have the capacity to build more battery power than all the other lithium-ion factories in the world combined. >> how many automobi
significant things in that the military intervention threatens to derail energy under vegan. -- intervention. the key pipelines that go from russia into europe through ukraine. we have seen energy analysts saying that it could affect gas prices as far away as great britain. >> and not to mention supply routes as well for troops in afghanistan. how is it then that vladimir putin feels he has the upper hand, that the international community is impotent? >> i think there is very little militarily that the international community can do. when the kremlin has sent troops across the border in the past of the u.s. and its allies cried foul before. we saw this in 1979, we find thousand eight -- we saw in 2008, but no military action was taken. it is not clear they will go further than seizing crimea, but there is very little beyond diplomatic and economic isolation that the rest of the world can do at this point. it remains to be seen how the ripple effects are going to affect the economy, and also diplomatic ties with russia which we need for other reasons like iran and syria. indira joining us on
at the impact that comes through commodity and energy prices. today, it does not look like this is going to be a deflationary event for the last. that is something we have to be wary of. >> talk about emerging markets and we have elections in india for april and we have a lot of movement in china. without corporate default. are you more cautious than you were? >> i think the answer is that we remain cautious on emerging markets and the growth cycle has not yet got to a pays for a base that benefits the emerging markets and you are seeing the problem come through in china. china knows they cannot rely so heavily on the west for demands and gdp growth on exports. there is also investment spending that has been a big contributor to growth and cannot continue at this sort of pace that it has been. it has to come more from consumer spending and that is hard to generate. there could be a lot of pickups. >> the chief investment officer. we are back into. >> in london, this is on the move in london. we're streaming on your phone and tablet and on let's get back to richard. thank y
it is a brokerage business. >> what happened once we did energy and we broker oil and we hang up the phone. we went into the shipping brokerage business. what is the difference? service and brokerage. you are not taking the risk, you're helping clients achieve their goals. you hire smart oh. we do huge amounts of analytics on real estate. nobody else does. mostly people say the real estate lead 45. instead of saying find to this kind of space at $31.90. bgc/cantorlass at and you jam and every piece of real estate. how do you decide which wants to buy? the same way you should be analyzing what real estate to invest in. what should you rent? that is why we are doing spectacularly well. big bcg is.ow it is a public company. about 450 billion dollars. how is cantor these days? >> we only had a billion 500 million in capital. morganlook at what stanley has, it keeps us nice and safe on the sidelines. we are owing to do things that ouran outperform with brains. take the managers and let them use in the platform they want. is getting in that business. how are you going to get in there? >> we are smart and
and western europe are reliant for a large portion of their energy needs. be a douchewill it -- we have anastasia, ryan, i want to start with you. what are you hearing from the people there and whether they have a sense things will not continue to get worse right now. class a lot to talk about. let's start with some of the unrest in the east in the country. , an has been the city industrial city of about one million people. about 500 miles east of here. the last few hours, we have seen clashes. we effectively had a group of about 2000 pro-russian protesters. 5000 pro-ukrainian protesters. then the police were brought in separately. a group actually stormed a regional government building there. we heard the day before yesterday president putin talking about why russian forces are in crimea and why he is looking at the ukraine. he talks about the need to protect russian speaking people. this would of course give him an excuse to go in eastern ukraine, something he said he did not see the need for yet. it is certainly something to watch. then at ground zero in his crisis, that is crimea. t
islamist energies into a nonviolent channel. that is not the case anymore. now they are outlawed and they have been gunned down in the streets in large numbers, or than 1000. tens of thousands of them have been jailed. that he's on nonviolent channel has been eliminated. >> and i assume it has been radicalizing the moderates among them. >> the actual members, the nominally illegal. they became a safety valve. they were a way to direct islamist energies into a nonviolent channel. that is not the case anymore. dues-paying members who attend brotherhood ideology, i do not think they are likely to take up arms. that is a relatively small number of people who voted for president morsi. when you're talking about radicalizing, you are talking about younger people who might have been attracted to the muslim brotherhood, but did not become fully involved. now they may be attracted to these newer, more militant groups. there is a new group carrying the fight militant insurgency egypt right now. they grew up and they were formed in the sinai initially with the aim of making trouble for isra
restaurant. it had a lot of energy to it. it was bustling. the food was american. it had a lot of big flavors to it. and i was able to accomplish that, and 22 years later, it is still there. it has evolved because it is important to continue to evolve your concept within the concept itself without changing it. i think the hardest thing that i had to put a stop to is all my cooks are always watching what the next food trend is, so when asian cuisine came along, they started bringing asian ingredients into the kitchen. i was like hold on. we do not need to do that. we do not need to know every single thing about every ingredient or every trend. just because pea shoots made "the new york times" cover doesn't mean we have to flood our menu with it. >> it was like that quality control? >> i picked the focus, which was a contemporary american southwestern restaurant. >> right, your core brand. >> exactly. and i wanted to be the best at that particular thing, so when you crave that food, when you're trying to decide where to eat and you feel like having something with chili peppers, or those kinds o
. they have such a diverse range of energy, infrastructure. it, they tend to have done well. one area that they have not done, one of the companies he has owned, one of the most famed companies that he holds. it has not borne fruit in 2013. it is got a lot of international exposure. u.s. and the growing economy. >> he holds many records. one long-standing record might come to an end this year. >> a 44 year record. it could be the first time he ever misses his target to increase the net worth more rapidly than the s&p 500. >> he doesn't care about the share price? >> he doesn't. you look at the book value of berkshire hathaway. since he took over it has outperformed the s&p 500. you look at five years, each five years always outperformed the s&p 500. this time it might not. 2013 was such a stellar year. the s&p 500 returned 128% since the end of 2008. that is a phenomenal performance but it is not living quite up to his usual target. 65, thet forget society book thought he was $19. year on year, compounded, generally you're getting 20% from berkshire hathaway. that heinz might be one o
to alternative energy. we have that story covered. >> the big day at the supreme court. they determine the fate of shareholder class action worth $80 billion in 20 years. we are streaming on your smart phone and your tablet. all of our interviews are live and on-demand on apple tv. ♪ biggest package shipping company is making another investment in alternative fuel. we are talking ups. compositionange the of the ups fleet in the united states. we recently went inside ups. you say the vehicles run on a variety of fuels. >> they do a lot. they have hybrids, pure electrics, cng compressed natural gas -- they have propane. they have had propane up in canada. the news today, they will make a $70 million investment to buy 1000 propane trucks. they're going to install about 50 fueling stations at various ups stations. they are introducing this propane fleet in the u.s. this will replace trucks in role areas. rural areas. they will reduce the use of ofut 3.5 million gallons diesel and gasoline. >> the purpose -- saving money. >> they have a couple of initiatives. whethera company -- it's looking at th
it do for the future of elon musk's electric car? >> i am by some energy independence. we ought to be using more natural gas. we ought to be using more cng. >> in cars? >> yes. it is very doable. it gets us more efficiency. we become more energy independent. >> if you're in the market for less fuel-efficient way of getting around, just call the army. it is giving away their team thousand armored vehicles left over from iraq and afghanistan. there are mine resistant ambush protected truck built specifically for the challenges of warfare. take a look at who is getting their hands on some very high-powered military surplus. one place that definitely doesn't need any more trucks, beijing. in an effort to manage traffic congestion, the city is limiting the number of new license oness, allowing expiring to bid on them. 1400 request so far for electric cars. this is according to municipal website. either way, that is in a city of 21 million people. beijing even bigger problems. it is probably air pollution. the city has been plagued by thick smog which has reached hazardous levels just
interesting front. we have clearly seen utilities that are more oriented towards renewable and clean energy technologies to reduce electricity behaves quite nicely. the market is certainly starting to anticipate some of that. hsing.eard from lee co. he is making a bet in that space. lee featured one of his rising venture fund companies. leaf, and theyna are taking a look at the lightbulb that could emit 100 watts of energy using just 12 watts of actual power. how much do you think these kinds of innovations are going to be integral? >> taking it in a broader really, technology is a intriguing place in china, and historically it was because it was cheap to produce than it was elsewhere. the intriguing part about china now, which is part of the consumer domestic growth idea is you produce it as well as consume it. whether it is environmentally oriented technologies or whether it is more traditional consumer oriented technologies, it's quite interesting looking. the stock performance looking at revenue growth, looking at earnings growth, we're seeing that with existing chinese stocks. >> oscar
at the future the way we are. here,, conditions primarily because of this tremendous energy revolution that we have had over the last few years have changed the equation in the u.s. >> but i am saying it is behavior and emotion. scarlet and her husband want to get the marginal 5000 square feet. >> 10,000! now, americansht are not as optimistic as they are traditionally. thatat is where i say people are fearful. they should not be fearful because all of the trends are working in the right direction. >> with that said, what are you seeing, jed? >> when we ask people is homeownership part of the american dream, that is climbing back up. the vast majority of young people are renting and want to buy someday. the danger is that that optimism translates into unreasonable expectations about what will happen to home prices. if people start buying homes because they think prices will keep rising at 11% a year, that is a bad thing, that is a bubble. but we are not to that point yet. >> is homeownership part of the american dream in places like san francisco where you are based? we see the income inequali
and can fund the development of a lot of energy infrastructure, that will drive road, rail, and other transportation infrastructure we're talking about. you need a private sector impetus. dry?sentially the pot is the piggy bank is empty? >> it pretty much is. highway funding is done. vehicle miles traveled have been dropping. gas tax revenues are falling. the need for a public-private partnership. you have private money coupled with public management. why can't we get that done? >> that does happen. but the economic incentive has to be there. we start natural gas exports and crude oil exports. the prices equalize between the center of the u.s. where the crude oil piles up in barrels and the rest of the world -- you can have it better environment for private investment and international energy agency's have estimated that it is in the trillions of dollars, the infrastructure investment, to man come in to develop our resources of energy in the u.s.. do investors look at president obama's infrastructure proposal with any degree of belief or is it something that they say it has been propo
northern santa fe, and acquisition he did back in 2010. unit. from an energy it is coming from all of these acquisitions. the issue ofraise succession even more? >> succession is a huge issue for berkshire. if you listen to what buffett said about that in the past, he would say that these operating berkshire hashow a future that is going to go on much longer than him. he is not involved in the day-to-day operations. >> right. i wonder what the correlation is between their profits and gdp. is there one? analysts,speak with as the u.s. goes, so does berkshire. think about something like burlington northern santa fe, a big, big railroad. if people are buying more stuff, companies are moving more stuff, burlington northern tends to do better. --what are you expecting what do people want to know? is always on the table. last year, he did not give us that much on that front. apart from that, it is going to be everything from the economy to his thoughts about the investing environment right now. are these sectors the ones that are responsible for the profits? >> a big chunk of it. another
at a point where they can afford not to pay them for the energy bill for couple of months, that is still a temporary move and will still remain the primary supplier. russia knows that. >> what do you think about the comment to trish to never take vladimir putin at his word? let me also add to this. senator mccain went so far as to say we heard similar rhetoric from hitler as he was trying to protect german speakers. so he really has no use for what he is saying right now. i wonder from a market perspective. >> a lot of people have been doing that. what do you think about it as an investor? >> the markets have already picked a winner and loser. if you look at the ukrainian stock market, it is of a percent. the russian stock market is down 12%. ukrainian bonds of the highs. upkets can be wrong, but until now the market is saying in is losing. him and interacted with work with him to get what he needed done and thought very highly of him at the time. very pragmatic. says hew my uncle thinks he wants to be the best are. >> your uncle is saying what a lot of people need to be saying edges he
. steel, power producers. 65% of the energy needs are produced by: this country and a lot of these producers are around the city of beijing. they do not necessarily have the filters on the smokestack and that is why we get stuck with the smog. today, absolutely what they call a blue sky day here in beijing. it oftentimes is the opening of the biggest party. temperatures drop, skies clear, and then they all gather and do their thing. like magic. stephen engle reporting their live from beijing. to reducetic evidence issues in the crimea, they consider a loan to help pay its debt to the national gas exporter, gaza problem -- ga zprom. ryan chilcote filed this report. >> in independence square, calling on the men in the crowd to sign up for the ukrainian army to take on russian forces in crimea. theexpectation here is that next round may not involve troops at all. the ukraine relies on russia for most of its energy. they use the natural gas to fuel its industry and heat homes. that reliance will be russia's next weapon. they could punish the ukraine by cutting the gas off alto
be bringing higher. a lot of them have to do with alternative energy. >> no shocker. first of all, if you are looking at etf's, the plain-vanilla ones don't have any exposure to elon musk companies. you have to go to the niche area. one example is the market vectors global alternative energy. it has 18% exposure to elon musk companies, 14% in tesla, 4% in solarcity. it is up 12% year-to-date. of the 12%, elon musk is personally responsible for a .5%. it is rare to see one person have such an effect on an etf holding 40 stocks. another example is the first trust green energy etf. this one is focused on u.s. companies. elon musk companies are about 18%. very heavy with elon musk companies. this one is up 16%. the third one is the global-x etf. >> i can imagine that is heavily traded. lithium goes into batteries, right? >> this announcement of the world's largest battery factory, this popped on that. volumes up over 100,000 shares. it is growing. a very niche etf, only tracking 20 companies. the top 10 account for 80% of the portfolio. due to this announcement, and smart phones and iphones u
. this is all because of what's happening in ukraine? >> you have the biggest energy user. we see these spikes in oil when we have tensions rise in the middle east, and then they come back down again when you see those recede. when people talk about trade sanctions, you can see how it could hit the likes of russia. 20% of their national income comes from natural gas alone. so it could hurt them. you have to say, russia is not iran. i was looking at some of the stats from b.p. statistical review. a third of natural gas imports into e.u. come from russia. any kinds of trade sanctions there would hurt russia, and it would hurt europe, too. >> and there are questions raised about what will be the spongs in terms of sanctions, but also what will be the russian response with regard to gas supplies. the gas problem has been suggesting it could end natural gas discounts to ukraine and that could have effects to the rest of europe. >> it would definitely do that. the gas problem today is one of the biggest in the equity market down to almost 10%. they are -- down almost 10%. they are getting hit hard.
crush the ukrainian oligarchs. they can cut off the energy to ukraine. if putin does not want to use leverage to support secession is financial levers over the medium-term to make ukraine the losers. >> what is the possibility of civil war? >> i think it is low in the near term. today, the most interesting news to me has come out of crimea where the russians have a base and naval infantry division. there were riots -- demonstrations that looked a little like riots. they were not violent. they forced the town council there to get rid of their mayor and except a russian citizen as their mayor. they also flew some russian flags. that shows their disposition. the crimean people, the majority of them have no interest in being a part of ukraine. if the russians want to stir up trouble, that's where they can do it. in the near-term, i don't think the russians will push that. if they push for civil war, you will have a republic of western ukraine is going to want to join nato imminently. outia makes a lot of money of transiting angie -- energy through ukraine and if they cannot do that, that
that the limited resource is cash. it is not. the limited resources always the time and energy of the management team and their focus. when i come into a situation, it is always about what we are focusing on and what can we move to the side, because you have limited time and energy for the management team to actually drive change and drive improvement. it gives them that opportunity, in a calmer environment. >> cash is a factor in that. you can always get cash. you can leverage something, ight? if there is a cogent strategy -- >> you are able to get cash. >> it is costly. but you can do it. >> the mob might lend you money. >> but when you are meandering around a bunch of strategies and a lost customer base, it is very difficult. >> if you are doing restructuring with jcpenney or another company, is there a point beyond which you just say, ok, it is not worth salvaging here, we're just going to shut it all down? where is the tipping point echo -- where is the tipping point? >> you know, jcpenney has artie crusted, but that is a qualitative thing you have to go through. thed to consider what is in
between russia, ukraine, and germany with a flow of energy? >> that is really the threat point that russia has in all of this, is europe is crucially dependent on natural gas, most of which comes from russia. that is always the -- obviously, russia needs to sell the natural gas, too. so far, that is why it has been stable. >> there's a terrific book "command and control" about the u.s. history and the disturbing -- clearly still on the minds of germans. >> casting a long shadow of the history. we will be back and talk about real estate. how can a real estate company survive commission-free? that is coming up next on "bloomberg surveillance." ♪ >> this is "bloomberg surveillance." let's get you some company news. a hiring spree in asia. they have hired hundreds of engineers and supply chain managers in china and taiwan. triesring comes as apple to speed product development and introduce a wider range of devices. ebay director firing back at carl icahn saying he recused himself from deal talks when ebay sold skype to a group of investors that included his venture firm. carl icahn has accus
. a 22% gain in profit. he is so ingrained within the u.s. economy. he has holdings in energy, infrastructure, trucker and, banks, more than 80 companies. interesting exception, his second-biggest -- coca-cola. fears about sugar content, where word about our health. that one did not pay such good dividends. what did pay good devin -- dividends is heinz. he has done particularly well 280it seems the company -- billion dollars is what it is worth. it keeps on growing. >> he usually says don't rate me on my share price increase. remy how i do versus the s&p 500 on a dividend basis and over the past five years. tends to be net worth versus the s&p 500. it is not done as well. for 44 straight years he outperform. end of 2008, it has risen 80%. >> it has been an incredible year. caroline hyde, our european business correspondent. next-generation biofuel. stay tuned. we will tell you about it when i come back. ♪ >> next generation biofuels. they have been described as bridging the gap between agriculture and advanced materials. with companies like shell opening manufacturing plants
of the darlings of the market. >> they will be where? is one name that we like. energy would be a name in terms of a sector play. this energy independent north america is a very good thing for the next 7-10 years. looking at the net states with our natural gas reserves. be fallout from those will significant. manufacturing is improving. there are ideas where the u.s. is globally competitive but are internally focused. the u.s. is a big economy but does not trade a lot. not compared to hong kong or south korea or holland. --e inward focus >> more but consuming pattern. you are looking at stock versus high-yield. they highlighted this inverse correlation we have seen in the s&p and high-yield spread. red shows the lower default risk. the economy gets better, more confidence in stocks, less concern over credit quality. we keep getting new ties in the s&p -- new highs in the s&p. how does this change the investment landscape for the rest of the year? >> wire using this? >> is an improving economy. the liquidity is provided. are being muzzled. they're not the same as stock. almost as volatile, but f
energy do it ahead of time then wait as they did last year when it hit in the middle of the year. they had to do a lot of dumb things like throw away people and cutting flying hours. >> i want to thank you gentlemen very much, larry korb and robert levinson. tomorrow i will be in washington as the defense summit. i will be interviewing former u.s. defense secretary william cohen. that is tomorrow at 5 p.m. eastern. the account #gselevator is revealed as a fake. he once bought 57,000 followers. this is "taking stock." ♪ >> the "new york times" has uncovered the identity of a twitter account that is said to be the internal identity of a goldman sachs employee. posting tweets on what was believed to have been overheard in the elevator banks at goldman sachs or the firm. the person behind this specific messaging account is a former bond executive who lives in texas. he has never worked at goldman sachs. the authenticity of twitter accounts and messages they spew out and the followers they have is a topic that is familiar to my next guest. chris dessi is the ceo of silverback social
chesapeake energy, they posted their first profit in several years. their bottom line was hit by rising costs, but the ceo has been scaling back operations. market"be back "on the in 30. ♪ >> welcome back to the second half hour of bottom line. thank you for staying with us. we will get to the close of oil on this snowy wednesday. new york crude is up by three quarters of a percent. it is that 10259. natural gas is falling down about 5.5%. it is at 4.808. of the national economic council is leaving next week. his replacement is a man of many accomplishments, but he is not economist.meant -- julianna goldman joins group more on this story. he brings quite a different resume. >> that's right. foras a different resume the nec director. academics, industry titans, lawyers, but we have not had the like camp -- we have not had somebody like camp. -- him. they went to duke university and then he did a stint at pain. he brought major league baseball to washington. he did two consultants is and he also invested in the the the the bc restaurant scene. nelson mandela was a guest at his wedding. before
. this will accelerate the development of the fellow -- of alternative sources of energy. you will see fracking going on on steroids. we have to reduce the power of the russians that are behaving this way. the power comes to guns and gas. if we can reduce the dependence on their oil and gas, they will have less power and president cutin will not be that popular and the russian people might think there is a better way to go. you to knowthem rip that? >> i think he knows that and i think he is flexing his muscles to show that he still really powerful, in the military sense at least. basically, that system, depending upon guns and gas cannot survive in the long-term. they have got to reform their system so it is not state-owned, it is not a bunch of oligarchs and a bunch of corruption that infiltrates the entire economy. that is what is happening in the ukraine and not what happened in russia -- and that is what has happened in russia as well. >> thank you for joining me, the former senator, congressman, secretary of defense, william cohen. coverage continues from washington. this is "taking stock" on b
the it is havingation, an impact on wti. energy futures are on track to post gains for the month due in part to the weather and huge spike in heating oil and natural gas. toc crude production dropped the lowest level in more than two years in february. look at today's prices as we head to the close -- lower across the board with gasoline futures falling on speculation that above average supplies will keep prices in check. natural gas futures rebounded from a five-week low. one-week dropis a of almost 26%. that's the biggest one-week truck we've seen in roughly a decade. those comments are impacting gold today. >> part of what we are looking at is the fact that the ukraine situation and yellen's comment pricesortiva of higher that create a demand for a safe haven. we are seeing a big debate on where the price will be. will be ainks we little higher. you have to consider the fact that gold has posted two straight months of gains will stop you are looking at unchanged as we had to the close right now. >> thank you. turning our focus to investments in emerging markets with the focus on the fed c
ukraine's low oil tea through money. >> cheap gas, cheap energy. >> even though they were having nice dances with the european union. >> that drama is far from over. this very morning, russia decided, not by coincidence, to have some military exercises not far from the border of ukraine. >> saying, we are here. >> take note. we may be back in two or three weeks, god for bid. i could be wrong. i find it very hard to believe that russia would send troops into ukraine. toward what end would it be? i just don't know? russia is asserting itself on the world stage in sochi and of his ownmaster almost cartoonish self-confidence, they have a lot of problems. of the it work in terms russian psyche in the appeal of putin? forgetink we should not that the majority of the people in intellectual moscow and st. petersburg, good liberals, younger people , yes,ng the middle class they are long since tired of putin. they want to see development of a realdent judiciary legislature, the rule of law, free press, all of these things. right now, you have an authoritarian situation and he has peaked. 60's.i
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